That could be a problem.  It could also be something to make the use of Bitcoins in America illegal.  Certainly the U.S. government is very interested in "paper trails" and keeping track of where money came from and where it is going, where even cash transactions have to be reported on some level.  This move simply adds that issue all that more.

The parallels between the Bitcoin and the Euro are obvious.    Say the BTC becomes a global currency.  How do we deal with the issue of necessary currency value differentials to accommodate the differing capabilities of disparate geographical locations?  Obviously, if we can't, then the BTC is worthless in all but the economic top-tier countries, because it cannot be used save on an equal footing with such countries.

I don't understand the hideous threat in this new requirement.  If a business purchases $600 or more in product from a supplier, it must fill out a form to verify that the supplier is reporting these sales (which they should be reporting anyway) to be taxed.

I'm very much in disapproval of the current American administration and its policies, and very much a free-market libertarian.  However, this does not impose any new tax or tax requirement - they're just double-checking to make sure that all goods *already* taxed are reported.  Said taxes might need to be eliminated, but at least this only imposes a reporting requirement, not a new tax.  Pain in the rear?  Yes.  Huge change of policy?  No.

3. While the accounting is clean. The market seems subject to manipulation. For example, this forum is obviously a tightly knit group relative to the worlds general population. And this tight group has all the bit coins and decides the rules of how they operate. For example it would be trivial for you bit coin rich to decide that you would keep the community in close beta for a year or two. Thereby assuring yourselves an initial hidden stash. Those coins could be considered "lost" to the latecomers. Then after  commodity values begin to rise, this group would control say 30% of all currency.  That is as close to a fiat currency and a federal reserve as I've ever seen.

Am I missing something?
 

[Edit: the hard coded coin limit embedded in the bitcoin concept is a clear example of centralisation. The centralisation is determined by fiat at the beginning and then embedded into the code]

The narrative that suggests that if you cause the scales to tilt full swing in one particular direction or another then everything will be well is a delusion whether it is peddled by austrians or keynsians.

That much should be obvious to anyone except an austrian or keynsian fanatic.

As a footnote, the Austrians is not one of monetary deflation in normal times nor as a proscribed policy. Their position is that credit bubbles should be allowed to bust, but money should otherwise be honest and stable; that is, neither inflationary nor deflationary.

Yes, all the source code is available, anyone can compile the client or modify it, fork it, etc.